Brookfield Co. (BN) To Go Ex-Dividend on December 16th

Brookfield Co. (NYSE:BN) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.08 per share on Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th.

Brookfield has decreased its dividend payment by an average of 16.4% per year over the last three years. Brookfield has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield to earn $4.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.5%.

Brookfield Stock Down 1.7 %

NYSE BN traded down $1.01 during trading on Friday, reaching $56.79. The company’s stock had a trading volume of 2,406,514 shares, compared to its average volume of 2,786,896. The stock has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. Brookfield has a 1-year low of $33.61 and a 1-year high of $60.20. The business has a 50-day moving average price of $53.47 and a 200-day moving average price of $47.65. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BN shares. Royal Bank of Canada dropped their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank increased their price objective on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.